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re: Here's why Bitcoin is the future of money
Posted on 5/1/13 at 11:21 am to TigerDeBaiter
Posted on 5/1/13 at 11:21 am to TigerDeBaiter
Government backed is not the key IMO.
The new currency, and IMO there will be one at some point, will:
1- Be simple to use
2- Be widely available
3- Derive value from a market mechanism
4- Be supportive of anonymous / untraceable transactions
5- Exist outside the boundaries of government reach
And don't give me the crap about it'll only be used for illegal activities.
It will be the cash-equivalent to today's shadow economy. The same one that has existed for 100 years.
Heck, even the Thai restaurant I love loves to get "paid in cash".
The new currency, and IMO there will be one at some point, will:
1- Be simple to use
2- Be widely available
3- Derive value from a market mechanism
4- Be supportive of anonymous / untraceable transactions
5- Exist outside the boundaries of government reach
And don't give me the crap about it'll only be used for illegal activities.
It will be the cash-equivalent to today's shadow economy. The same one that has existed for 100 years.
Heck, even the Thai restaurant I love loves to get "paid in cash".
Posted on 5/1/13 at 12:05 pm to Meauxjeaux
quote:
And don't give me the crap about it'll only be used for illegal activities.
It will be the cash-equivalent to today's shadow economy. The same one that has existed for 100 years.
Doesn't the shadow economy exist mainly for tax evasion, which is illegal?
ETA: Not saying that it's necessarily a bad thing. Doc Fenton raised some good points yesterday about the utility of a shadow economy. But the activity that drives it is still largely illegal no?
This post was edited on 5/1/13 at 12:08 pm
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